World’s biggest aerospace corporation was forced to pull its full financial forecast for the current year due to unresolved issues surrounding Boeing’s once best-selling 737 MAX aircraft.

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Boeing also announced plans to pause share buybacks, citing “a challenging time for our customers, stakeholders and the company.”

“Across the company, we are focused on safety, returning the 737 MAX to service, and earning and re-earning the trust and confidence of customers, regulators and the flying public,” Boeing Chairman and CEO Dennis Muilenburg said in a statement.

The manufacturer had previously posted a report on the first-quarter earnings that managed to fall in line with analysts’ expectations, while its revenue was slightly less than projected. Boeing’s earning per share totaled the expected $3.16 from January through March, while the revenue amounted to $22.92 billion against $22.98 billion forecasted by London-based provider of financial markets data Refinitiv.

Boeing stressed that the previous guidance didn’t reflect the impact of two crashes of the company’s flagship planes, leading to the grounding of all 737 MAX 8 jets by global regulators, lawsuits from some air carriers and a decline in market value.

According to the producer, more than 135 test and production flights of updated software for the 737 MAX have been carried out so far.

Boeing’s bestseller crashed on March 10 not far from the Ethiopian capital of Addis Ababa six minutes after takeoff on the way to Nairobi, Kenya. The tragedy, which killed 157 people, marked the second crash involving the same jet model in less than six months. In October, the same type of aircraft, operated by Indonesia’s Lion Air, crashed in the Java Sea shortly after takeoff, claiming the lives of 189 people.

Today, United Airlines is introducing customers and employees to a modernized aircraft livery, which will bring a refreshed look to its fleet. The design is a visual representation of United’s ongoing brand evolution while staying true to the history it has developed over the past 93 years of proudly serving customers around the world.

“As we improve and elevate our customer experience, we are changing the way people think and feel about United, and this branding captures that new spirit,” said Oscar Munoz, CEO of United Airlines. “Each improvement we’ve added to our service advances our evolution as an airline, furthering our effort to elevate and redefine customer service in the sky. This modernized design, especially our iconic globe, enhances the very best of United’s image and values while pointing in the direction of where we intend to go next in serving our customers.”

The next iteration of United’s livery prominently features the color most connected to the airline’s core – blue. Three shades – Rhapsody Blue, United Blue and Sky Blue – are used throughout the design in a way that pays respect to United’s heritage while bringing a more modern energy. The airline is keeping its iconic globe logo on the aircraft tail, which represents the carrier’s expansive route network of reaching 355 destinations in nearly 60 countries. The tail will be updated with a gradient in the three shades of blue, while the logo will now appear predominantly in Sky Blue. The engines and wingtips are also being painted United Blue, and the swoop that customers and employees have expressed fondness for on United’s Dreamliner fleet will be added to all aircraft in Rhapsody Blue. United’s name will appear larger on the aircraft body and the lower half of the body will be painted Runway Gray. United’s mission of “Connecting people. Uniting the world.” will also be painted near the door of each aircraft.

The new design features core colors from United’s updated brand palette, which was introduced last year as a step toward updating the brand’s visual identity. Blue continues to be the airline’s primary color, with various tones creating more depth and reflecting the colors customers and employees see when they look out the plane window at the sky. The airline’s new color palette also includes shades of purple, which is most recognizable as the color of the new United Premium Plus seats are being added to the fleet. When combined, the purple and blue tones create a soothing environment and a more relaxed travel experience. In updating its colors, United is reducing the use of gold, which was added to the brand palette almost 30 years ago. United’s new color palette can also be seen in the accent colors of the new uniforms that are being created for more than 70,000 front-line employees.

On average, United aircraft receive new paint jobs every seven years. The first aircraft painted with the new design is a Boeing 737-800, which will be joined by a mix of narrowbody, widebody and regional aircraft with the updated livery throughout the year. For more information visit united.com/brandevolution.

Mitsubishi Aircraft Corporation, an aviation unit of Japanese industrial giant, is planning to start deliveries of Japan’s first domestically-produced passenger plane since the 1960s as soon as next year.

The 88-passenger jet has a flight range of about 2,000 miles, while a smaller variant can fly up to 76 people for about the same distance. The MRJ (Mitsubishi Regional Jet) made its maiden flight in November 2015 with the first deliveries slated for mid-2020.

Mitsubishi Aircraft Corporation initially planned the first deliveries of the jet for 2008. However, the date was pushed back five times due to production difficulties. Orders for the aircraft that once totaled 474 units from US and Japanese carriers have been reportedly reduced to 407 jets so far.

The Japanese conglomerate, a longtime supplier of aircraft components to Boeing, invested over 600 billion yen ($5.36 billion) into MRJ as of March 2018 with another 200 billion yen ($1.8bn) expected to be pumped into the project by the end of 2020. In October, Mitsubishi announced plans to invest an extra 170 billion yen ($1.5bn) in capital into its aircraft unit, canceling 50 billion yen ($446mn) of the debt owed by the division.

The long-anticipated MRJ, which is designed for local air transportation, may become a peer competitor for such mainstays as Canada’s Bombardier, whose C Series regional planes are marketed as the Airbus A220, after the 2017 acquisition of the unit by the European aerospace giant. The Japanese jet is also expected to provide keen competition to Brazil’s Embraer that announced plans to create a joint venture for Embraer’s airliners in 2018.

The newcomers in the sector of regional air service, such as the Russian Sukhoi Superjet-100 and the Chinese Comac ARJ21, which are currently undergoing test flights, may also challenge Airbus and Boeing.

Mitsubishi is currently involved in legal proceedings with Montreal–based Bombardier. In October, the Canadian aircraft manufacturer filed a lawsuit, accusing the Japanese corporation of stealing secret information and causing Bombardier “to suffer irreparable financial loss.”

Mitsubishi counter-sued, saying that the Canadian aircraft producer had violated antitrust regulations through “a multifaceted scheme to expand its power within the regional jet market by impeding the entrance of a new competing aircraft.”

Fly Leasing Limited announced that it has completed the sale of a portfolio of 12 aircraft for an aggregate price of approximately $295 million. The portfolio was comprised of Airbus A320 and Boeing B737 narrow-body aircraft with an average age of over 10 years.

“This portfolio sale accomplishes several strategic objectives; including generating free cash, reducing leverage, reducing our lessee concentration, and lowering the average age of our fleet,” said Colm Barrington, CEO of FLY. “This is another example of how FLY has consistently sold aircraft from its portfolio at premiums to book value, underscoring the strong value of our fleet.”

Three sales were recognized in the fourth quarter of 2018, eight sales were completed in the first quarter of 2019, and the final sale was completed in April. The sales were at a premium to net book value. FLY will be reporting its first quarter results on May 9th, as previously announced.